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Arianne Phosphate (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) reported its corporate and financial results for the three and twelve month periods ended December 31, 2013.
As quoted in the press release:
2013 Corporate & Financial Highlights
- Announced robust feasibility study results on its Lac à Paul Project. Study highlights included:
- Net Present Value (“NPV”) of US$1.9B at 8%;
- Internal Rate of Return (“IRR”) of 20.7% with a pre-tax capital payback period of 4.4 years;
- A 25.75 year mine life (excluding pre-production) with an average annual phosphate concentrate production of 3Mt with a grade of 38.6% P2O5 and with average mill recovery of 90.0%; and,
- M&I resources in the Paul Zone alone of 590Mt grading an average of 7.1% P2O5 at a 4.0% cut-off grade.
- Strengthened Arianne’s balance sheet by securing $15.5M in financing through a series of transactions, including a private placement, credit facility and exercised warrants, that demonstrated both the market’s and shareholder’s continued confidence in the Lac à Paul Project;
- Advanced Lac à Paul’s permitting process by submitting the Project’s Environmental Impact Assessment to the Quebec Ministry of Sustainable Development, Environment, Wildlife and Parks for review;
- Maintained strong local community relationships by expanding Arianne’s community development program and continuing public consultations in the region;
- Commissioned a study to determine the socio-economic benefits received by the communities in the Saguenay-Lac-Saint-Jean area and at all government tiers;
- Strengthened its leadership team through the appointment of Guthrie Stewart, as Interim Chairman, Pierre Fitzgibbon,Dominique Bouchard, Steven L. Pinney and Siva J. Pillay to the Board of Directors and Brian Kenny as Chief Executive Officer;
- Consistent with its focus of advancing the Lac à Paul Phosphate Project towards production, Arianne divested its non-core, non-phosphate assets; and,
- Renamed the Company to Arianne Phosphate, again consistent with this focus.
Arianne Phosphate CEO, Brian Kenny, said:
We remain focused on bringing our world-class Lac à Paul Phosphate Project into production. The progress we made in 2013 paves the way for Lac à Paul’s continued development in 2014. This year we will concentrate on further improving the project’s potential through optimization studies and key de-risking activities, including securing regional stakeholder and government agreements and finalizing strategic and financial partnerships. We remain firmly committed to realizing the greatest value of the Lac à Paul asset for our shareholders.
Click here to read the Arianne Phosphate (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) press release
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